A great illustration of why the borders must remain shut

This:

Melbourne’s COVID-19 spike has affected the movements of Victorians but elsewhere Australia’s easing restrictions and virus containment have allowed restaurant activity to recover faster than is the case globally. #ausecon #ausretail @DimesHayden pic.twitter.com/qMa6NDnhdB

— ANZ_Research (@ANZ_Research) July 2, 2020

A unique recovery in restaurants enabled entirely by the success of virus containment. Now reversing Victoria thanks to quarantine failure.

Keep the borders shut to enable the fortress economy to develop. No temporary workers. No foreign students. No migrants.

Anything else is an asymmetric bet on small upside and huge downside.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.